Forum Topics What investing books am I missing?
Arena42
2 years ago

As I said before, I am a young investor willing to learn, and I would like to know what investing books I am missing or what you found helpful.

I currently have read The Essays Of warren buffet, The Most Important Thing, The Intelligent Investor, Poor Charlie's Almanack and all of the peter lynch books.

I currently have but haven't got around to reading Rule Breakers, Rule Makers Investing, The Last Liberal Art, Common Stocks And Uncommon Profits, The Warren Buffett Way, More Money Than God, The Little Book That Beats The Market, The Dhandho Investor and The Wisdom Of Crowds

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Mujo
2 years ago

I think you'll find that investing books get repetitive but a few to consider that bring something different:

Bulls, Bears and a Croupier – Matthew Kidman (probably a bit beginner for where you are but I like the Australian angle - second half of the book is more to the valuation)

The Art of Execution – Lee Freeman-Short

The Investment Checklist

Mckinsey Valuation: Measuring and Managing the Value of Companies - more a text book

100 Baggers – Christopher W. Mayer

The Most Important Thing – Howard Marks

·      The Gorilla Game – Moore. Johndon Kippola - more for picking tech winner.

These are not investing books per se but are also popular:

·      Thinking Fast and Slow – Daniel Kanehman

·      Misbehaving – Richard H. Thaler

·      Nudge – Richard H. Thaler, Cass R. Susntein

·      Thinking in Bets – Annie Dukes

·      Influence – Robert B Ciaidini

·      Superforecasting – Phillip Tetclock, Dan Gardner

·      The Signal and the Noise: Why So Many Predictions Fail-but Some Don't – Nate Silver

·      The Tipping Point – Malcom Gladwell

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Arena42
2 years ago

@Mujo thanks for the help. Some of those books I have heard of, some I haven’t.

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fcmaster26
2 years ago

I would say instead of looking for investment books, you need books that will forge you into a strong thinker.

You might want to check out the basics series. They are actually quite good.

I highly recommand the following two:

Critical Thinking: The Basics

Logic: The Basics

They are going to save you from investment ideas that seem to be brilliant using common sense but are in fact bull crap.

If your academic background has nothing to do with investing, you might also want to go through those ones:

Economics: The Basics

Finance: The Basics

International Trade: The Basics

I think they are all available on Amazon.


The Art of Statistics by David Spiegelhalter was also a good read if you are interested in stats.


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Seasoning
2 years ago

My list of personal finance ones that have influenced me (some double ups with Mujo):

  • How I invest my money - Joshua Brown + Brian Portnoy
  • Competitive advantage - Michael E. Porter
  • One up on wall st - Peter Lynch
  • Value able - Roger Montgomery
  • How to decide - Annie Duke (okay it's not really a finance book, but the whole book is very investing friendly)
  • 100 baggers - Christopher Mayer
  • Psychology of money - Morgan Housel
  • The Most important thing - Howard Marks
  • The little book of behavioural investing - James Montier
  • The simple path to wealth - JL Collins

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Timocracy
2 years ago

Some books I've had recently in paper and on Audible that are either directly investing related or loosely connected psychology themed:

  • Black Box Thinking
  • The Price of Time (really good)
  • Unknown Market Wizards
  • Autopilot
  • Red Notice
  • Your Money or Your Life
  • Noise
  • Money on Demand
  • Exponential
  • Principles for Dealing with the Changing World Order
  • Think Again
  • Security Analysis
  • Numbers Don't Lie
  • Die With Zero (really good)
  • The Age of Surveillance Capitalism
  • How the World Really Works
  • Fooled by Randomness
  • The Outsiders
  • Essentialism
  • The Profit Pattern
  • The Compound Effect

Hopefully that gets you going... I'll be adding a lot from everyone else's recommendations in this thread to my list!

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@Arena42 ill be a bit more esoteric, read everything you can to start, then find whats suits your approach, which will probably be 3- 6 books and continually reread them every few years. there are alot of good books below

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Bear77
2 years ago

A couple of books that are good light reading but also informative are from Matthew Kidman, who was Geoff Wilson's first employee when he started WAM Funds. Matthew was formerly a journalist. He went from that to working for Geoff at WAM and then ultimately establishing his own funds management business, Centennial Asset Management. Matthew's fund, The Level 18 Fund which was established in 2015, has generated returns of 17.30% per annum to March 2022. See here: https://www.livewiremarkets.com/wires/matthew-kidman-who-s-lying-and-who-s-not-investing-in-small-caps

Matthew also does regular work for Livewire Markets including being either a guest on, or the host of, their "Buy, Hold, Sell" segments.


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and this one:

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That one covers Brian McNamee (CSL), Gerry Harvey (Harvey Norman, HVN), Wal King (Leighton Holdings, became CIMIC, now taken over by German company HOCHTIEF which is majority owned by Spanish company ACS based in Madrid), Paul Little (Toll Holdings, Toll is now owned by Japan Post), Owen Hegarty (Oxiana, which merged with Zinifex to become Oz Minerals - OZL), Colin Goldschmidt (Sonic Healthcare, SHL), Pat Grier (Ramsay Health Care, RHC), Edmund Bateman (Primary Health Care, now Healius, HLS), Graham "Scroo" Turner (Flight Centre, FLT), David Simmons (Hills Industries, now just called Hills Ltd, HIL), John Rubino (Monadelphous Group, MND), Andrew Reitzer (Metcash, MTS) and Ron Hancock (Wide Bay Australia, now Auswide Bank - ABA).

I admit I skipped straight past Wal King, but I found the other interviews and profiles very interesting. The first book there ("Bulls, Bears and a Croupier...") was also recommended by @Mujo up near the start of this thread. I second that recommendation. Very interesting.

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